Meritage Portfolio Management Raises Stock Holdings in Medpace Holdings, Inc. (NASDAQ:MEDP)

Meritage Portfolio Management grew its holdings in Medpace Holdings, Inc. (NASDAQ:MEDP) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,211 shares of the company’s stock after buying an additional 142 shares during the quarter. Meritage Portfolio Management’s holdings in Medpace were worth $1,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MEDP. Northwestern Mutual Wealth Management Co. increased its holdings in Medpace by 95.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 225 shares of the company’s stock worth $93,000 after acquiring an additional 110 shares in the last quarter. Truist Financial Corp lifted its position in shares of Medpace by 21.2% in the second quarter. Truist Financial Corp now owns 3,700 shares of the company’s stock valued at $1,524,000 after acquiring an additional 648 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Medpace by 2.3% in the second quarter. Cetera Investment Advisers now owns 11,757 shares of the company’s stock worth $4,842,000 after acquiring an additional 263 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Medpace during the second quarter worth approximately $1,346,000. Finally, Handelsbanken Fonder AB raised its stake in Medpace by 31.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,200 shares of the company’s stock valued at $2,070,000 after purchasing an additional 1,500 shares during the last quarter. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Medpace from $415.00 to $397.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. William Blair restated an “outperform” rating on shares of Medpace in a research report on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Medpace in a report on Monday, October 14th. They issued a “buy” rating and a $404.00 price objective for the company. Baird R W lowered shares of Medpace from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen dropped their price target on Medpace from $413.00 to $372.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Medpace has a consensus rating of “Hold” and a consensus price target of $381.44.

Medpace Stock Performance

MEDP opened at $355.15 on Thursday. The stock has a market capitalization of $11.04 billion, a PE ratio of 31.10, a P/E/G ratio of 1.79 and a beta of 1.36. Medpace Holdings, Inc. has a one year low of $293.37 and a one year high of $459.77. The business’s 50 day moving average price is $342.85 and its 200 day moving average price is $350.27.

About Medpace

Medpace Holdings, Inc engages in the provision of outsourced clinical development services to the biotechnology, pharmaceutical and medical device industries. Its services include medical department, clinical trial management, data-driven feasibility, study-start-up, clinical monitoring, regulatory affairs, patient recruitment and retention, medical writing, biometrics and data sciences, pharmacovigilance, core laboratory, laboratories, clinics, and quality assurance.